Redevelopment Of Railway Stations To Bring Additional Revenues And Jobs

21 Nov 2017 13:17
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Rail stations are evolving from a traditional transit facility to a facility offering leisure and entertainment services. Some of the services offered by rail transportation companies include automated ticketing, helipads and facilities with ergonomic design. Rail stations also serve as a crucial link between commercial, leisure and residential spaces, and are thus redeveloped to generate additional revenues for rail operators. For instance, in 2017, the redevelopment of Darlington station was announced in the UK. The new station is expected to have 98,500 square meters of commercial space providing over 3,000 direct and indirect jobs, and additional revenues to its operators. Another example is the station redevelopment project launched in India, in February 2017. This project includes redevelopment of 400 A1- and A-category rail stations by Indian Railways under a public-private-partnership (PPP) model to generate non-fare revenue. These redeveloped stations will offer digital signage, escalators and elevators, self-ticketing counters, executive lounges, luggage screening machines, walkways and holding areas for passengers.

RAIL TRANSPORTATION MARKET TO GROW TO $624 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY

The Business Research Company expects the global rail transportation market is expected to grow from $509 billion in 2016 to $624 billion in 2020 at a compound annual growth rate (CAGR) of 5.2%. Asia Pacific was the largest region in the rail transportation market in 2016, accounting for $250 billion or 49.2% market share. This is mainly due to a large population and fairly well developed rail network in countries such as China and India. In addition to this, transportation of coal, minerals, steel, fertilizers, chemicals, petroleum products by rail had boosted the market growth in Asia Pacific region.

Purchase the report at https://www.thebusinessresearchcompany.com/our-research/transportation-services/rail-transportation-market-global-briefing-2017/

The chart below shows the year-on-year growth of the global rail transportation market during 2016-2020.

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According to The Business Research Company’s Transportation Consultant, Abdul Wasay, rail transportation companies are using alternative energy sources to operate their rolling stock and stations. Alternatives for diesel include hydrogen and LNG (already being tested by some rail operators) that can be used to power trains. The use of alternative energy sources is primarily driven by growing environmental concerns due to climate change and rising fears of energy security. For instance, The Netherlands’ national railway company Nederlandse Spoorwegen (NS) and electricity company Eneco is running all its trains on wind energy, since January 2017.

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China Railway Corporation was the largest competitor in the rail transportation market in 2016 with 27.11% market share. China Railway Corporation aims to expand its network within and outside of China by forming strategic partnerships and increasing investments. In 2016, China Railway Corporation entered into a collaboration with MTR, a Hong Kong-based transport operator to explore opportunities in high-speed railway line construction, rail operations and staff training. The company has also planned to invest $115 billion in 2017, for track-doubling, electrification and construction of new high-speed railway lines.

The rail transportation industry uses railroad rolling stock to provide transportation of passengers and/or cargo. These railroads mostly operate either on networks with physical facilities, labor force, and equipment spread over a wide geographic area, or operate over a short distance on a local rail line. This industry does not include scenic and sightseeing rail transportation and street railroads, commuter rail, and rapid transit systems.

Rail Transportation Market Global Briefing 2017 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.

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